DENEHURST LIMITED (ASX.DHU)

company deregistered

anyone with knowledge of developments?? please advise to admin@delisted.com.au

company emerges from administration

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued

administrators advise that the final instalment of employee entitlements was paid by the Deed Administrator in December 2004 - the Deed Administrator is expecting the Taxation Laws Amendment Bill (No. 6) 2004 to receive royal assent in the near future - following this, the Deed Administrator should be able to declare that there is no likelihood that Denehurst Ltd shareholders will receive any distribution in the course of winding up the company

deed administrators have recently received advice from Collex Waste Management that they are likely to be in a position to advance monies to enable payment of the final instalment of employee entitlements by mid-August 2004 - the handover of the mine and denehurst assets to Collex should follow this payment - shareholders should receive their much awaited written declaration that they can crystallise their capital loss before 30 June 2005

it would appear that the claims of unsecured creditors will not be met and therefore there will be no distribution to shareholders

while the NSW Land and Environment Court recently upheld the appeal against Collex's proposed waste transfer station development at Clyde, the NSW parliament subsequently enacted special legislation enabling the construction of the terminal - employees are to receive 30% of their entitlements by Christmas 2003 and the remaining 45% is to be paid within six months

deed administrators are still awaiting approval from the Land and Environment Court regarding Collex's proposed waste transfer terminal at the Clyde railway yards - if the Court upholds the Minister's consent for the facility, construction will commence within the next few months, which will then enable deed administrators to make a further distribution to employees of their outstanding entitlements - until then, there is nothing further to report

seeking update from deed administrator

residents have appealed the NSW State Government's decision to allow the construction of a transfer terminal at Clyde and development works will not proceed until the appeal process is concluded - at best, it is not anticipated that construction of the Clyde works would be completed before September 2003 - the continuing development of the Woodlawn mine site into a waste management facility is dependant upon Clyde being approved

NSW Government approves plans for the Waste Transfer Terminal at Clyde with a 28 day appeal time frame

the main obstacle to the effectuation of the DOCA is the approval by the NSW Government of the development of a waste transfer station at Clyde

negotiated settlement reached with key stakeholders and approved by creditors - unsecured creditors will not receive any dividend under the proposal

Deed of Company Arrangement extended on a number of occasions since August 1998

delisted pursuant to Listing Rule 17.13 for failure to pay listing fees.

Deed of Company Arrangement executed

mining business ceased trading

N Brooke and P Carter of PriceWaterhouseCoopers appointed administrators